Soybean Comment
Soybeans ended mixed with nearby contracts recovering some of yesterday’s big losses. Deferred contracts were under pressure again today. Much of the selling appeared to be technical in nature as chart support was breeched late last week.. January futures are now testing support near $14. Inability to hold support in this general area would set the market up for a possible move to the early June low near $12.50. New crop November has fallen below $13 and has additional support in the $12.70 to $12.25 area.

Wheat
Cash bid for November at Memphis 851 to 866;

Bids to farmers at Local Elevators

811-831;

River Elevators

821-846;

Chicago Futures:

Dec

down

6 3/4

at

851

March

down

6 3/4

at

865 3/4

May

down

6 3/4

at

872 1/2

July

down

4 1/2

at

856

Sept

down

5

at

864 1/4

Today's Arkansas LDP rate for wheat is:

0¢

Grain Sorghum
Cash bid for November at Memphis 1176 to 1185;

Bids to farmers at River Elevators

1078-1158;

Today's Arkansas LDP rate for sorghum is:

0¢

Corn

Cash bid for

November at Memphis
748 1/2 to - - -;

New Crop at Memphis
602 1/2 to 607 1/2;

Bids to farmers at River Elevators

704 to 744

Chicago Futures:

Dec

up

5 1/2

at

723 1/2

March

up

4

at

726 1/4

May

up

3

at

722 1/2

July

up

1 1/4

at

711 1/2

Today's Arkansas LDP rate for corn is:

0¢

Grain Comment
Wheat futures continued to move lower today and the charts have taken on a bearish appearance. July has broken out of the short-term uptrend that was building on support at $8.24-$8.25, and a retest of that support now looks likely.

Corn ended mixed. December broke out of a very tight 6 week trading range and closed just above key support at $7.05. Today price action showed that support to be firm for now, but a close below that level would send December toward the bottom of the early June breakaway gap at $6.60. New crop December has support at $6.00, then $5.89.

Cotton & Rice Date: November 13, 2012

Cotton

Spot Price, Grade 41 Staple 34:

Memphis up 173 at
6781

Greenwood up
173 at 6781

New York Futures:

Dec

down

7

at

7081

March

down

59

at

7061

May

down

75

at

7165

July

down

76

at

7283

Oct

down

76

at

7465

This week's LDP rate for cotton is

0 cents

The estimate for next week is

0 cents

Cotton Comment
Cotton couldn’t overcome the negativity in commodities two days in a row, and turned lower today. Demand concerns continue to plague the market. There is no indication China will increase their cotton use and long term that is a major factor in what happens in the cotton market.

Rice

Long Grain Cash Bid for

Nov

1339/cwt

to

- - -

NC

1406/cwt

to

- - -

Chicago Futures:

Nov

down

11

at

1451 1/2

Jan

down

12 1/2

at

1478 1/2

March

down

13 1/2

at

1509 1/2

May

down

13 1/2

at

1538 1/2

July

down

14 1/2

at

1556

Today's Arkansas LDP rate for long grain rice is

0¢

medium grain rice is

0¢

Rice Comment
Rice fell victim to the overall weakness in soybeans and grains and violated support at the early September low. That opens the door to further losses from a technical perspective. Long term fundamentals suggesting a tightening of stocks, and a strong probability that U.S. 2012 plantings will decline should provide some upward momentum in the future.

Delmarva BroilersU.S. Grade APrices are trending higher for whole broiler/fryers. Offerings are light and clearing well for current trade needs. Demand into retail and food service channels is moderate to good following the weekend. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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